Snap CFO Vollero to step down; Amazon's Tim Stone to replace him

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Snap Spectacles by Snap Inc.
Snap Spectacles by Snap Inc.  Credit: Patrick T. Fallon/Bloomberg

Snap Inc. said Chief Financial Officer Drew Vollero is stepping down, and named Amazon.com Inc. executive Tim Stone to replace him.

The Los Angeles-based company, owner of the Snapchat mobile photo-sharing app, says Vollero will depart on May 15. His exit isn't related to any disagreement about Snap's accounting, operations or other practices, the company says.

"I am deeply grateful for Drew and his many contributions to the growth of Snap," CEO Evan Spiegel said in a regulatory filing on Monday. "He has done an amazing job as Snap's first CFO, building a strong team and helping to guide us through our transition to becoming a public company."

Stone, 51, will join Snap from e-commerce giant Amazon, where he's worked since 1998 in various roles, including vice president of finance and VP of physical stores.

-- Bloomberg News

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